Required : Prepare the following in good form (1) Statement of Comprehensive Income (2) Statement of Changes in Equity (3) Statemen of Financial Position - Account form *Write your answers on a piece of paper (with your name). You may upload 3 images, 1 image per Financial Statement The following are the ledger balances of Kulay Rosas Ang Bukas Service Center for the year ended December 31, 2021. Account Titles Amount P8,000 20,000 20,000 5,000 Accounts Payable Accounts Receivable Accumulated Depreciation - Equipment Accumulated Depreciation - Furniture and Fixtures Allowance for Bad Debts 2,000 1,000 18,000 1,500 70,000 40,000 1,000 2,000 4,000 12,000 15,000 6,800 2,500 92,050 10,000 10,000 5,000 20,000 Bad Debts Expense Cash Depreciation Expense Equipment Furniture and Fixtures Insurance Expense Interest Income Miscellaneous Expense Notes Payable -due in 5 years Notes Receivable Office Supplies Prepaid Insurance L. Robredo, Capital L. Robredo, Drawing Rent Expense Repairs and Maintenance Expense Salaries Expense

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Required : Prepare the following in good form (1) Statement of
Comprehensive Income (2) Statement of Changes in Equity (3) Statement
of Financial Position - Account form *Write your answers on a piece of
paper (with your name). You may upload 3 images, 1 image per Financial
Statement
The following are the ledger balances of Kulay Rosas Ang Bukas Service Center for the year ended
December 31, 2021.
Account Titles
Amount
P 8,000
20,000
20,000
Accounts Payable
Accounts Receivable
Accumulated Depreciation - Equipment
Accumulated Depreciation - Furniture and
Fixtures
5,000
2,000
1,000
18,000
1,500
70,000
40,000
1,000
2,000
4,000
12,000
15,000
6,800
2,500
92,050
Allowance for Bad Debts
Bad Debts Expense
Cash
Depreciation Expense
Equipment
Furniture and Fixtures
Insurance Expense
Interest Income
Miscellaneous Expense
Notes Payable - due in 5 years
Notes Receivable
Office Supplies
Prepaid Insurance
L. Robredo, Capital
L. Robredo, Drawing
Rent Expense
Repairs and Maintenance Expense
10,000
10,000
5,000
20,000
4,250
88,000
3,000
5,500
Salaries Expense
Salaries Payable
Service Income
Supplies Expense
Utilities Expense
Transcribed Image Text:Required : Prepare the following in good form (1) Statement of Comprehensive Income (2) Statement of Changes in Equity (3) Statement of Financial Position - Account form *Write your answers on a piece of paper (with your name). You may upload 3 images, 1 image per Financial Statement The following are the ledger balances of Kulay Rosas Ang Bukas Service Center for the year ended December 31, 2021. Account Titles Amount P 8,000 20,000 20,000 Accounts Payable Accounts Receivable Accumulated Depreciation - Equipment Accumulated Depreciation - Furniture and Fixtures 5,000 2,000 1,000 18,000 1,500 70,000 40,000 1,000 2,000 4,000 12,000 15,000 6,800 2,500 92,050 Allowance for Bad Debts Bad Debts Expense Cash Depreciation Expense Equipment Furniture and Fixtures Insurance Expense Interest Income Miscellaneous Expense Notes Payable - due in 5 years Notes Receivable Office Supplies Prepaid Insurance L. Robredo, Capital L. Robredo, Drawing Rent Expense Repairs and Maintenance Expense 10,000 10,000 5,000 20,000 4,250 88,000 3,000 5,500 Salaries Expense Salaries Payable Service Income Supplies Expense Utilities Expense
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